Asher Rivner specializes in securities, breach of fiduciary duties, bondholder, bankruptcy-related, and general commercial litigation. Asher also advises financial institutions, private equity firms, and large corporations on structuring transactions to minimize litigation risks.
Asher has received two awards from the Legal Aid Society for his pro bono work. Building off of years of experience in his legal profession, Asher is firmly dedicated to his practice and his clients. He provides sound, strategic advice to clients and develops creative solutions to their most pressing matters.
- Defending a major financial institution in numerous actions in state and federal court in which mortgage-backed securities investors, monoline insurers, and others attempt to hold the Bank liable as the successor-in-interest to Countrywide Financial Corporation, winning dismissal of several actions collectively seeking billions of dollars in damages. See, e.g., Maine State Ret. Sys. v. Countrywide Fin. Corp., No. 2:10-CV-0302 MRP (MANx), 2011 WL 1765509 (C.D. Cal. Apr. 20, 2011); Allstate Ins. Co. v. Countrywide Fin. Corp., No. 2:11-CV-05236-MRP (MANx), 2011 WL 5067128 (C.D. Cal. Oct. 21, 2011); Argent Classic Convertible Arbitrage Fund L.P. v. Countrywide Fin. Corp., et al., Case No. CV 07-07097 MRP (MANx) (C.D. Cal.).
- Defending leading mortgage servicers in qui tam actions related to the United States Government’s financial bailout.
- Advising an investment fund in its successful action in the Cayman Islands courts to force the restructuring of a company operating in China.
- Defending a major financial institution in multiple litigations arising from alleged breaches of financing agreements for a failed $3 billion Las Vegas hotel and casino construction project. In re Fontainebleau Las Vegas Contract Litig., No. 1:09-md-02106-ASG (S.D. Fla.)
- Securing dismissal of virtually all claims against Credit Suisse, New York Branch, and Credit Suisse Asset Management in an action alleging that Credit Suisse breached its contractual and fiduciary obligations to a state pension fund by investing its cash collateral from a securities lending program in Lehman Brothers securities. Missouri State Employees’ Ret. Sys. v. Credit Suisse, New York Branch, No. 09AC-CC00554 (Mo. Cir. Ct.)
- Defending a major financial institution in multi-forum class actions and preliminary-injunction proceedings seeking to enjoin its proposed US$4 billion merger with Countrywide Financial Corporation. In re Countrywide Corp. S'holders Litig., Consol. C.A. No. 3464-VCN (Del. Ch.); In re Countrywide Fin. Corp. Deriv. Litig., 542 F. Supp. 2d 1160 (C.D. Cal. 2008); In re Countrywide Fin. Corp. S'holder Deriv. Litig., Lead Case No. BC375275 (Cal. Super. Ct.); and related cases.
- Providing pre-litigation advice to a large financial institution in disputes concerning securities lending programs, collateralized debt obligations, mortgage-backed securities, and similar investments.
- Represented the Securities Industry and Financial Markets Association, the members of which include every major US securities firm and financial institution, as an amicus in Stoneridge. The Supreme Court held that scheme liability under Rule 10b-5 did not extend to innocent commercial counterparties in transactions that a securities issuer uses to falsify its financial statements. Stoneridge Inv. Partners, LLC v. Scientific-Atlanta, Inc., 128 S. Ct. 761 (2008).
- Represented a Canadian pharmaceutical company in expedited bondholder litigation before the Southern District of New York in connection with the company's sale of its US.-based assets, a transaction valued at US$3.4 billion. Jean Coutu Group, (PJC) Inc. v. Wells Fargo Bank, N.A., No. 06-CV-14301 (JGK) (S.D.N.Y.).
- Obtaining dismissal of bondholders’ claims against GMAC’s directors arising from GMAC’s 2008 debt exchange offer. Murchison v. GMAC LLC, et al., No. 09-cv-0169 (SLR) (D. Del.).
- Advised a mid-size internet company on formulating a legally defensible document retention policy.
Admissions
Bar Admissions
- New York
- New Jersey
Court Admissions
- US District Court, Eastern and Southern Districts of New York
- US Court of Appeals, Second Circuit
Education
- New York University, J.D.: Dean’s Scholarship; Development Editor, New York University Annual Survey of American Law
- University of Georgia, M.A., Political Science
- University of Georgia, B.A., Political Science: Phi Beta Kappa; Pi Sigma Alpha National Graduate Scholarship; University of Georgia Endowed Charter Scholar; Best Political Science Research Paper
Professional Activities
Clerkships
- Honorable James Orenstein, US District Court, Eastern District of New York
Author
- “The Securities Act, Underwriters and the Due Diligence Defense,” New York Law Journal, Special Litigation Supplement, co-authored with Bradley J. Butwin and William J. Sushon (February 16, 2010)
Related Practices
Related Industries